Crestwood Advisors Group LLC Buys 198,607 Shares of Kenvue Inc. (NYSE:KVUE)

Crestwood Advisors Group LLC raised its position in shares of Kenvue Inc. (NYSE:KVUE) by 14.8% during the second quarter, HoldingsChannel reports. The fund owned 1,537,348 shares of the company’s stock after acquiring an additional 198,607 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Kenvue were worth $27,950,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Kenvue by 12.0% during the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after purchasing an additional 17,908,497 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after buying an additional 25,238,112 shares in the last quarter. Wellington Management Group LLP boosted its position in Kenvue by 6.7% in the 4th quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock valued at $1,647,087,000 after buying an additional 4,815,126 shares during the period. JPMorgan Chase & Co. grew its stake in Kenvue by 11.1% in the 1st quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock worth $1,466,147,000 after acquiring an additional 6,825,611 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Kenvue by 9.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 66,665,454 shares of the company’s stock worth $1,435,307,000 after acquiring an additional 5,574,265 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price objective on shares of Kenvue in a research note on Wednesday, August 7th. HSBC upped their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. UBS Group boosted their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Citigroup dropped their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Stock Up 0.9 %

NYSE:KVUE opened at $21.95 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.33. The company has a market cap of $42.04 billion, a PE ratio of 28.14, a P/E/G ratio of 2.76 and a beta of 1.38. The company’s 50 day moving average is $19.54 and its two-hundred day moving average is $19.56.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Analysts anticipate that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.74%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s payout ratio is presently 105.13%.

About Kenvue

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.